Rivernorth Managed Duration Municipal Income Fund (NYSEARCA:RMM) Trading Up 1.2% – What’s Next?

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM)’s stock price rose 1.2% during trading on Friday . The stock traded as high as $14.42 and last traded at $14.41. Approximately 26,137 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 61,174 shares. The stock had previously closed at $14.24.

Rivernorth Managed Duration Municipal Income Fund Price Performance

The company’s 50-day moving average price is $14.21 and its two-hundred day moving average price is $14.01.

Rivernorth Managed Duration Municipal Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be given a $0.0847 dividend. This represents a c) dividend on an annualized basis and a yield of 7.1%. The ex-dividend date of this dividend is Monday, March 16th.

Hedge Funds Weigh In On Rivernorth Managed Duration Municipal Income Fund

A number of hedge funds have recently bought and sold shares of the company. Royal Bank of Canada grew its stake in shares of Rivernorth Managed Duration Municipal Income Fund by 10.7% in the 1st quarter. Royal Bank of Canada now owns 268,226 shares of the company’s stock worth $3,841,000 after acquiring an additional 25,822 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Rivernorth Managed Duration Municipal Income Fund by 118.3% during the fourth quarter. Advisors Asset Management Inc. now owns 228,430 shares of the company’s stock valued at $3,109,000 after purchasing an additional 123,771 shares in the last quarter. U.S. Capital Wealth Advisors LLC lifted its position in shares of Rivernorth Managed Duration Municipal Income Fund by 2.1% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 166,643 shares of the company’s stock valued at $2,356,000 after purchasing an additional 3,500 shares in the last quarter. Wagner Wealth Management LLC boosted its holdings in Rivernorth Managed Duration Municipal Income Fund by 53.2% during the fourth quarter. Wagner Wealth Management LLC now owns 109,754 shares of the company’s stock worth $1,494,000 after purchasing an additional 38,116 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its holdings in Rivernorth Managed Duration Municipal Income Fund by 11.9% during the third quarter. Raymond James Financial Inc. now owns 72,555 shares of the company’s stock worth $1,026,000 after purchasing an additional 7,718 shares during the last quarter.

Rivernorth Managed Duration Municipal Income Fund Company Profile

Rivernorth Managed Duration Municipal Income Fund Inc is a closed ended fixed income mutual fund launched and managed by RiverNorth Capital Management, LLC. The fund is co-managed by MacKay Shields LLC. It invests in the fixed income markets of the United States. The fund primarily invests in investment grade municipal debt securities. It seeks to invest in securities of any maturity. The fund employs a combination of fundamental and quantitative analysis. It benchmarks the performance of its portfolio against the Bloomberg Barclays Municipal Bond Index.